Helping the youth through the budget will be my overreaching goal – Finance Minister

Finance Minister, P.Chidambaram said that the main goal of the Union budget this year will be to create more and better opportunities for the country’s youth.

Chidambaram said that the present current account deficit condition is a matter to worry about today more than the country’s fiscal deficit condition.

According to him, one of the most contributing factors today is the people’s passion for gold.

According to the Economic Survey 2013, in order to control the increasing Current Account Deficit (CAD) measures to curb the imports should be taken and also in order to rule over the CAD, oil prices should be made to be determined by the market forces.

The survey also says that cutting down gold imports might help in deflating CAD. Though tariff on gold has been increased by 4 % to 6 % to discourage imports, better alternative investment avenues must be made available to the households to cut down their gold purchases.